Kentucky Retirement Systems Reduces Stake in Fox Co. (NASDAQ:FOXA)

Kentucky Retirement Systems reduced its stake in Fox Co. (NASDAQ:FOXA) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,437 shares of the company’s stock after selling 213 shares during the quarter. Kentucky Retirement Systems’ holdings in FOX were worth $750,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. grew its holdings in FOX by 5.4% in the 4th quarter. Pacer Advisors Inc. now owns 8,340,762 shares of the company’s stock valued at $405,194,000 after buying an additional 425,186 shares in the last quarter. KBC Group NV grew its holdings in shares of FOX by 56.1% during the 4th quarter. KBC Group NV now owns 2,367,698 shares of the company’s stock worth $115,022,000 after purchasing an additional 851,127 shares during the period. Jacobs Levy Equity Management Inc. increased its position in shares of FOX by 228.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,387,107 shares of the company’s stock worth $58,716,000 after purchasing an additional 964,737 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of FOX by 308.5% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,218,070 shares of the company’s stock worth $59,174,000 after purchasing an additional 919,883 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of FOX by 10.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,125,648 shares of the company’s stock worth $47,649,000 after purchasing an additional 110,753 shares during the last quarter. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Guggenheim raised their price objective on FOX from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. TD Cowen raised their price objective on FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. StockNews.com downgraded FOX from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. JPMorgan Chase & Co. raised their price objective on FOX from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Finally, Wells Fargo & Company raised their price objective on FOX from $59.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $51.19.

Insider Activity

In related news, insider Adam G. Ciongoli sold 1,278 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total transaction of $69,178.14. Following the completion of the sale, the insider now owns 29,897 shares in the company, valued at $1,618,324.61. The trade was a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 21.77% of the company’s stock.

FOX Stock Performance

Shares of FOXA opened at $58.00 on Tuesday. The stock has a 50-day simple moving average of $51.05 and a 200-day simple moving average of $45.68. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.14 and a current ratio of 2.50. The stock has a market capitalization of $26.30 billion, a PE ratio of 12.42, a PEG ratio of 1.27 and a beta of 0.76. Fox Co. has a 1 year low of $28.28 and a 1 year high of $58.38.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.34. The business had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $4.78 billion. FOX had a return on equity of 18.50% and a net margin of 14.39%. The business’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.34 EPS. On average, analysts predict that Fox Co. will post 4.38 earnings per share for the current fiscal year.

FOX Announces Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be paid a $0.27 dividend. This represents a dividend yield of 1%. The ex-dividend date of this dividend is Wednesday, March 5th. FOX’s payout ratio is presently 11.56%.

FOX Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses news and sports content for distribution through traditional cable television systems, direct broadcast satellite operators and telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms primarily in the U.S.